Tuesday, January 31, 2017

2016 Year in Review

Rhode Island’s economy continues to grow under the leadership of
Governor Gina Raimondo and the General Assembly, and we’re proud to say that
Rhode Island Housing played a significant role.

Last year, Rhode Island Housing
contributed $650 million to the
state’s economy with investments in housing development, homeownership, rental
assistance, and help for Rhode Island homeowners.

2016 highlights include:

Financed the development and preservation of almost 1,200 homes, a
60% increase over 2015. This represents a $160 million investment in
communities throughout the state that supports 820 well-paying jobs.

Helped over 1,600 Rhode Islanders purchase a home. That’s the highest one year total in our
history and almost 30% higher than 2015.

Opened a new line of business by taking on servicing of
MaineHousing’s half-billion dollar loan portfolio.

Rolled out new foreclosure assistance through the Hardest Hit Fund
thanks to $36 million in federal funding secured by our Congressional
delegation.

Provided more than $175 million in federal rental assistance. This
includes place-based support to over 15,000 apartments and person-based support
to 1,700 households.

In the year ahead, we’re looking forward to helping the state put
the $50 million Housing Opportunity Bond to work creating more homes and jobs
for Rhode Islanders. And that’s just the beginning of what we have planned.

As we develop new programs and continue to support our existing
programs, Rhode Island Housing is positioned to help even more Rhode Islanders
in 2017.